PARIS, April 16 BioAlliance Pharma said
it agreed to buy Scandinavian biopharmaceutical company
Topotarget to boost the companies' scale and combine
their pipelines of new drugs.
Topotarget shareholders will receive 2 new BioAlliance
Pharma shares for every 27 Topotarget shares owned, implying
approximately one-third ownership for Topotarget shareholders
and two-thirds for BioAlliance Pharma.
The transaction, which has been unanimously approved by the
boards of directors of both companies, is expected to be
completed in July or August, BioAlliance Pharma said in a
(Reporting by James Regan; Editing by Clarence Fernandez)